Can a trust get a non-recourse loan for 60% or 70% of the contract price for buying a block of units or townhouses, say 4 in a block? Would this be doable and if so, which lenders?
Can a trust get a non-recourse loan for 60% or 70% of the contract price for buying a block of units or townhouses, say 4 in a block? Would this be doable?
Can a trust get a non-recourse loan for 60% or 70% of the contract price for buying a block of units or townhouses, say 4 in a block? Would this be doable and if so, which lenders?
Not sure if you have ever purchased a 4 pack but you will most likely have issues with the valuation which means you need to come up with more money. Also not a lot of lenders do 4 units on a single title (CBA, RAMS, Bankwest, Heritage, etc) under resi lending.
I know back in the days before the GFC (about 15yrs back) people were getting non-recourse loans on residential, up to 60% LVR but not sure about it these days and also with a trust.
Are non-recourse loans still in existence these days? Haven't looked at finance for a long time.
Why would there be valuation issues with a 4 in a block?
I know back in the days before the GFC (about 15yrs back) people were getting non-recourse loans on residential, up to 60% LVR but not sure about it these days and also with a trust.
Are non-recourse loans still in existence these days? Haven't looked at finance for a long time.
Why would there be valuation issues with a 4 in a block?
I know back in the days before the GFC (about 15yrs back) people were getting non-recourse loans on residential, up to 60% LVR but not sure about it these days and also with a trust.
Are non-recourse loans still in existence these days? Haven't looked at finance for a long time.
Why would there be valuation issues with a 4 in a block?
No, I mean non-recourse loans. I got confused, they were usually used for large commercial property transactions and don't contain a personal promise to pay. The loan depends more on the quality of the deal, not the financial of the individual. I think LVR was usually between 50% to 70% and you need to deal with the commercial lending manager usually.